Exercise 5-11A Record the adjusting entry for uncollectible accounts using the aging method (LO5-5)

2. Record the adjusting entry for uncollectible accounts on December 31, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

The Physical Therapy Center specializes in helping patients regain motor skills after serious accidents. The center has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $96,000; Allowance for Uncollectible Accounts = $2,600 (debit). The center estimates uncollectible accounts based on an aging of accounts receivable as shown below. Age Group Not yet due 0-60 days past due 61-120 days past due More than 120 days past due Total Estimated Percent Amount Receivable Uncollectible $ 46,000 4% 24,600 15% 14,600 25% 10,800 80% $ 96,000 Required: 1. Estimate the amount of uncollectible receivables. Age Group Estimated Amount Uncollectible Not yet due 0-60 days past due 61-120 days past due More than 120 days past due Total Journal entry worksheet Record the adjusting entry for Uncollectible Accounts. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal 3. Calculate net accounts receivable Total Accounts Receivable Net Accounts Receivable